Bullboard - Stock Discussion Forum E Split Corp ENSPF

Primary Symbol: T.ENS Alternate Symbol(s): T.ENS.PR.A

The objective of the Class A shares is to provide holders with non-cumulative monthly cash distributions and the opportunity for capital appreciation through exposure to the portfolio. And The investment objectives for the preferred shares is to provide holders with fixed cumulative preferential quarterly cash distributions and return the original issue price of 10.00 Dollars to holders upon... see more

Add To Watchlist

TSX:ENS - Post Discussion

E Split Corp > ENS price is really sticky

View:

Post by Obscure1 on Jan 09, 2024 7:37pm

ENS price is really sticky

The share price of ENS has been trading around $12 for 3 months following the dip in late September/early October.

ENB has been rising steadily since it dipped in early September following the announcement of hte Dominion Energy acquistion.

With ENB rising and ENS holding, the Premium to the NAV had dropped to 3%.

ENB got punched in the face a bit today but ENS was only down marginally. As a result, the Premium to the NAV is now over 5%, which is still a bargoon imo.

Eventually, the share price of ENS will have to follow ENB, whether it be up or down but for now, there seems to be very little appetite to buy or sell ENS. I'm ok with that as a 13% yield on an investment that lets you breathe. .

205

Comment

Comment by Experienced on Jan 10, 2024 6:58pm

Obscure..kinda what I said on an earlier post...don't buy when the premium to is in the teens and buy when the premium is in the low single digits in negative.

Comment

Comment by Obscure1 on Jan 10, 2024 10:07pm

Trading the Premium can work, but focusing solely on the Premium is a bit like the tail wagging the dog. ENS investors that were buying ENS in the mid $10's in October (myself included) at Premiums of 13% to 15% are not too concerned with the higher Premium that we paid as the share price is up 15% despite the Raise and the drop in the Premium. The performance ...more

126

Comment

Comment by Experienced on Jan 11, 2024 11:00am

Obscure - fair enough. I share your feelings about ENB. In my post i was simply responding to your posts about how ENS wasn't tracking ENB and how the price action on ENS is sticky. My opinion as expressed in my previous post is that this shorter term price action is related to the size of the premium. Also, it is important to keep in mind that the typical shareholders in a split ...more

107

Comment